Insider Selling: Weyco Group (NASDAQ:WEYS) Director Sells 3,000 Shares

Key Points

• Director Tina Chang sold 3,000 Weyco Group shares at an average price of $45.07, generating $135,210 and reducing her stake by 14.4% to 17,833 shares.
• Weyco Group shares fell 1.8% to $44.01, while the company reported quarterly revenue of $62.22 million and earnings of $1.39 per share.
• The company declared a quarterly dividend of $0.28 per share, equivalent to a $1.12 annualized payout and a 2.5% yield; analysts maintain a consensus “Buy” rating.

Weyco Group, Inc. (NASDAQ:WEYS - Get Free Report) Director Tina Chang sold 3,000 shares of the firm's stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $45.07, for a total transaction of $135,210.00. Following the sale, the director owned 17,833 shares of the company's stock, valued at approximately $803,733.31. The trade was a 14.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Weyco Group Trading Down 1.8%

Shares of NASDAQ:WEYS traded down $0.81 during mid-day trading on Thursday, reaching $44.01. The company had a trading volume of 3,401 shares, compared to its average volume of 17,170. Weyco Group, Inc. has a one year low of $27.25 and a one year high of $48.67. The company's 50-day moving average price is $41.60 and its 200-day moving average price is $36.59. The firm has a market cap of $420.30 million, a price-to-earnings ratio of 12.12 and a beta of 0.89.

Weyco Group (NASDAQ:WEYS - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The textile maker reported $1.39 earnings per share for the quarter. Weyco Group had a return on equity of 14.04% and a net margin of 12.39%.The business had revenue of $62.22 million during the quarter.

Weyco Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, August 18th will be paid a dividend of $0.28 per share. The ex-dividend date is Tuesday, August 18th. This represents a $1.12 annualized dividend and a dividend yield of 2.5%. Weyco Group's dividend payout ratio is presently 30.85%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new position in Weyco Group during the second quarter valued at approximately $18,215,000. Bank of New York Mellon Corp bought a new position in Weyco Group in the 2nd quarter valued at $2,952,000. Empowered Funds LLC purchased a new position in shares of Weyco Group during the 2nd quarter valued at $2,116,000. Citadel Advisors LLC purchased a new position in shares of Weyco Group during the 3rd quarter valued at $380,000. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of Weyco Group in the second quarter worth $204,000. Hedge funds and other institutional investors own 23.59% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on WEYS. Wall Street Zen upgraded Weyco Group from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 15th. Weiss Ratings upgraded shares of Weyco Group from a "hold (c+)" rating to a "buy (b)" rating in a research note on Friday, August 21st. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has a consensus rating of "Buy".

Weyco Group Company Profile

Weyco Group, Inc is a publicly traded footwear company NASDAQ: WEYS based in Glendale, Wisconsin, that designs, sources, markets and distributes branded footwear products. The company operates through a portfolio of five consumer brands—Florsheim, Stacy Adams, Nunn Bush, BOGS and Rafters—offering a full range of dress, casual and performance footwear for men and women.

The Florsheim brand, with roots dating back to 1892, provides classic and contemporary men's dress shoe styles, while Stacy Adams and Nunn Bush deliver fashion-forward and casual offerings.

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